NEW YORK ( TheStreet) - DBV Technologies ( DBVT) is 20% higher from its IPO price of $21.64 back in late October. For those who haven't heard of the company, DBV Technologies is a French biopharmaceutical company focused on treating children with allergies.
Dr. Pierre-Henri Benhamou, DBV Technologies CEO, recently sat down with TheStreet TV's Gregg Greenberg. Benhamou attributed much of the stock's rise to the company's recent publishing about its food allergy treatment Viaskin.Read More: Warren Buffett's Top 10 Dividend Stocks
Viaskin is a skin patch worn by patients to help fight peanut allergies. It is expected to enter Phase III clinical trials in the second half of 2015 and hit the market by early 2018, Benhamou explained.
Although Viaskin has yet to hit the market, Benhamou says it could be a "blockbuster." In the U.S., there are more than 5 million people who suffer from peanut allergies, of which 3 million have severe cases.
The company is also going beyond just peanut allergies, as it is focused on other vulnerabilities, such as milk allergies in children.
Benhamou says there are currently no plans to partner with any pharmaceutical or biopharmaceutical companies, as he believes his company has the resources in place to take its treatment to the market without additional help.
The funds raised by the company's IPO should help with that task, as well as with providing working capital going forward, he concluded.
-- Written by Bret Kenwell